Global Blood Therapeutics (GBT) Cut to “Buy” at ValuEngine

ValuEngine cut shares of Global Blood Therapeutics (NASDAQ:GBT) from a strong-buy rating to a buy rating in a research note published on Thursday morning.

GBT has been the topic of a number of other reports. Cantor Fitzgerald set a $96.00 price objective on Global Blood Therapeutics and gave the company a buy rating in a research report on Tuesday, October 2nd. BidaskClub downgraded Global Blood Therapeutics from a hold rating to a sell rating in a report on Wednesday, September 19th. Zacks Investment Research downgraded Global Blood Therapeutics from a buy rating to a hold rating in a report on Thursday, October 4th. HC Wainwright reiterated a buy rating and issued a $150.00 price target on shares of Global Blood Therapeutics in a report on Wednesday, November 28th. Finally, Morgan Stanley increased their price target on Global Blood Therapeutics from $54.00 to $55.00 and gave the stock an equal weight rating in a report on Wednesday, December 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $82.80.

Shares of GBT stock opened at $45.21 on Thursday. Global Blood Therapeutics has a 1 year low of $30.15 and a 1 year high of $68.05. The company has a market cap of $2.24 billion, a price-to-earnings ratio of -16.38 and a beta of 2.12.

Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings data on Tuesday, November 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.02. During the same period in the previous year, the company earned ($0.66) EPS. As a group, equities research analysts predict that Global Blood Therapeutics will post -3.36 EPS for the current year.

Several institutional investors have recently bought and sold shares of GBT. FMR LLC raised its stake in Global Blood Therapeutics by 21.0% in the 3rd quarter. FMR LLC now owns 7,807,836 shares of the company’s stock worth $296,698,000 after acquiring an additional 1,357,642 shares during the last quarter. BlackRock Inc. raised its stake in Global Blood Therapeutics by 27.7% in the 2nd quarter. BlackRock Inc. now owns 4,142,762 shares of the company’s stock worth $187,252,000 after acquiring an additional 898,162 shares during the last quarter. PointState Capital LP purchased a new position in Global Blood Therapeutics in the 3rd quarter worth $20,832,000. Perceptive Advisors LLC raised its stake in shares of Global Blood Therapeutics by 6.6% during the 3rd quarter. Perceptive Advisors LLC now owns 5,148,910 shares of the company’s stock valued at $195,658,000 after buying an additional 320,000 shares during the last quarter. Finally, Brown Advisory Inc. purchased a new position in shares of Global Blood Therapeutics during the 3rd quarter valued at about $7,133,000.

About Global Blood Therapeutics

Global Blood Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities. It is developing its lead product candidate, voxelotor, an oral, once-daily therapy for sickle cell disease (SCD). The company is evaluating voxelotor in SCD in a Phase III clinical trial in adult and adolescent patients with SCD.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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